Iconic Brands Inc (OTCMKTS:ICNB) Overbought but Bullish

Iconic Brands Inc (OTCMKTS:ICNB) Overbought but Bullish

Iconic Brands Inc (OTCMKTS:ICNB) Overbought but Bullish for Now

ICONIC BRANDS IN closed up 0.003 at 0.006. Volume was 179% above average (trending) and Bollinger Bands were 659% wider than normal.

Open High Low Close Volume___
0.004 0.007 0.003 0.006 119,894,280

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 0.00 0.00 0.00
Volatility: 798 598 644
Volume: 149,843,360 49,961,656 28,255,622

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.


ICONIC BRANDS IN is currently 1,366.4% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect very strong flows of volume into ICNB.PK (bullish). Our trend forecasting oscillators are currently bullish on ICNB.PK and have had this outlook for the last 43 periods. Our momentum oscillator is currently indicating that ICNB.PK is currently in an overbought condition.

Candlesticks Say Buy

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.

During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 21 white candles and 9 black candles for a net of 12 white candles.

Momentum Says Sell

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 87.1681. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 13 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 84.19. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 8 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 280.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 3 period(s) ago.

Iconic Brands, Inc., incorporated on October 21, 2005, is a beverage company. The Company is engaged in the process of raising funds and identifying investment opportunities in operating businesses. The Company intends to seek, investigate and, if such investigation warrants, acquire an interest in one or more business opportunities presented to it by persons or firms who or which desire to seek the perceived advantages of a publicly held corporation. Its subsidiaries include BiVi, LLC and Medical Marijuana Business Academy, LLC. BiVi, LLC is made up of BiVi 100% Sicilian Vodka.

Medical Marijuana Business Academy, LLC is an educational platform that helps start-ups, investors and owners navigate the regulatory boundaries of the Cannabis market. Medical Marijuana Business Academy, LLC offers step-by-step live and online training platforms covering topics, such as marijuana business licensing qualification process, State license applications, seed to sale tracking, medicine and money, retail and cultivation operations, choice of entity, commercial leasing, marijuana business insurance, banking, security requirements, inventory obligations, State filings, taxes, special allocations, federal tax issues, compliance accounting, theft prevention, and tips to avoid failure and manage user’s chances of success.

The following two tabs change content below.
Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

Latest posts by Shayne Heffernan (see all)

You must be logged in to post comments :